NSE Market Indices Extend Rally by 0.12% Monday

By Dipo Olowookere

The first trading session of the week at the Nigerian Stock Exchange (NSE) ended on a positive note on Monday, with a 0.12 percent growth.

The All-Share Index (ASI) further increased by 29.93 points to 24,858.89 points from 24,828.96 points, while the market capitalisation expanded by N16 billion to N12.968 trillion from N12.952 trillion.

Yesterday, there was a 24.77 percent spike in the volume of shares traded by investors, while the value of the transactions went down by 24.06 percent.

According to data from the exchange, investors traded 158.7 million shares worth N1.6 billion in 3,940 deals compared with Friday’s 127.2 million equities valued at N2.2 billion in 2,844 deals.

A further breakdown showed that GTBank was the most traded stock, selling N17.8 million stocks for N401.1 million, while FBN Holdings transacted 17.4 million equities for N91.4 million.

In addition, Zenith Bank exchanged 10.3 million shares valued at N165.6 million, LASACO traded 10.2 million equities worth N2.7 million, while UBA traded 9.8 million stocks for N61.4 million.

Business Post reports that the banking sector was depressed on Monday and it was looking to leave the market in red until the consumer goods space lifted the stock exchange.

The consumer goods index appreciated yesterday by 1.86 percent, with the insurance sector rising by 0.23 percent.

However, the banking counter went down by 1.24 percent, the energy space depreciated by 0.62 percent, while the industrial goods index weakened by 0.14 percent.

Nestle Nigeria was the highest price gainer of the trading day, rising by N56.80 to close at N1256.80 per share, while Okomu Oil gained N6.40 to settle at N70.40 per unit.

UAC Nigeria appreciated by 55 kobo to finish at N8 per unit, PZ Cussons grew by 35 kobo to sell at N4.20 per share, while Fidson expanded by 22 kobo to quote at N3.20 per share.

On the flip side, Unilever Nigeria dominated the losers’ chart after losing N1.70 to close at N15.30 per unit, while Ardova depreciated by N1.30 to quote at N11.75 per share.

NASCON depreciated by 90 kobo to quote at N10.70 per unit, GlaxoSmithKline fell by 35 kobo to end at N5.50 per share, while GTBank also went down by 35 kobo to sell at N22.35 per share.